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Published: Friday March 29, 2013 MYT 2:12:00 PM
Updated: Friday March 29, 2013 MYT 2:16:19 PM

MARC withdraws WCT Bhd's RM100mil sukuk rating

By Choong En Han


PETALING JAYA: Malaysian Rating Corporation Bhd (MARC) had withdrawn its rating of AA-IS on WCT Bhd's outstanding RM100 million redeemable sukuk with warrants.

In a statement on Friday, it said the rating withdrawal follows the final redemption of the outstanding amount on March 25, 2013 as confirmed by the issuer.

Now, MARC's analytical coverage on WCT Bhd is now limited to the company's debt issuances of RM100 million Islamic Commercial Paper (ICP)/Islamic Medium Term Notes (IMTN) Programme (due 2014) at MARC-1ID/AA-ID; RM300 million ICP/IMTN Programme (due 2015) at MARC-1ID/AA-ID; and RM600 million Fixed Rate Serial Bonds with Detachable Warrants (due 2015) at AA-. The rating outlook on these debt issuances is stable.

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